February 2018 - Page 2 of 2 - Whitefield Tax - Isle of Wight Accountants

Credit and debit card fees abolished

by Jessica Garbett | Feb 15, 2018 | ACCA, business issues

Advice for businesses who take payments by card. From 13 January 2018 onwards consumers are no longer subject to surcharges when using their debit or credit cards to buy goods or services. These are being abolished following the implementation of the revised EU...

CGT Rollover Relief Basics

by Jessica Garbett | Feb 12, 2018 | ACCA, business taxation, capital taxation

A 60 second refresher and worked examples. Rollover relief allows a trader to defer the payment of capital gains tax where the disposal proceeds of a business asset are reinvested in a new business asset. The deferral is achieved by deducting the chargeable gain from...

Loans to participators – How to handle written off payments to participators, directors and employees

by Jessica Garbett | Feb 8, 2018 | ACCA, business taxation

How to handle written off payments to participators, directors and employees. If an ‘employment-related loan’ is released or written off the amount written off will be charged as taxable earnings of the borrower, unless otherwise taxable as income. It would be...

Paying a self-assessment liability via PAYE code

by Jessica Garbett | Feb 5, 2018 | ACCA, business taxation, HMRC, personal taxatation

It could pay to get the details right. Despite all of the tax administration changes which have come in (and are planned) – such as personal tax accounts and tax return pre-population measures – the old option of paying a self-assessment liability via the PAYE code...

National Insurance for Small Business

by Jessica Garbett | Feb 2, 2018 | business taxation, pensions, personal taxatation

NI, with rates lower than Income Tax, Corporation Tax, and VAT, can be seen as the unimportant poor relation of your Self Assessment payment, but far from it – its important for your benefit entitlements, and adds perhaps a third onto a typical tax bill. First,...

Next Entries »

Credit and debit card fees abolished

CGT Rollover Relief Basics

Loans to participators – How to handle written off payments to participators, directors and employees

Paying a self-assessment liability via PAYE code

National Insurance for Small Business

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